Hyderabad-based pharmaceutical company Divis Labs disclosed on November 16 that it has received a Goods and Service Tax (GST) demand notice amounting to Rs 82 crore.
The notice, issued by the GST Commissionerate in Hyderabad, includes an Integrated Goods and Service Tax (IGST) demand of Rs 82,04,24,880, coupled with applicable interest and penalty charges.
Divis Labs has carefully assessed the case’s merits and has chosen to file an appeal with the Appellate Authority within the stipulated time frame outlined in the GST Law. The company expresses optimism regarding a favorable outcome and anticipates no substantial financial impact as a result of the notice.
As of the latest update, Divis Labs shares were trading 0.48% higher at ₹3,554.00, with the company actively addressing and navigating through the GST demand scenario.